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Government should develop better policy for SEZs under CPEC: Abdul Basit

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Lahore Chamber of Commerce and Industry (LCCI) President Abdul Basit on Wednesday said that the government would have to develop better policy for Special Economic Zones (SEZ) under China Pakistan Economic Corridor (CPEC) to increase growth rate and to attract Foreign Investors towards Pakistan.

Addressing the Consultative Session on “Special Economic Zones under CPEC” at LCCI, Abdul Basit said, “Special Economic Zones are important part of CPEC that would ensure establishment of industrial clusters and would also help transferring knowledge and technology.” 

The LCCI President emphasized the need of One Window Operation for Special Economic Zones under CPEC.

The experts said, “CPEC is an economic revolution and China’s One Belt One Road (OBOR) initiative covers countries and regions with a population of over 4 billion.”

Federal Secretary, Ministry of Planning, Development and Reforms Shoaib Ahmad Siddiqui said, “China Pakistan Economic Corridor (CPEC) is a mega game changing project of the government and most importantly people from all walks of life are on the same page as far as this project is concerned.” 

He said, “Dream has come true and a number of projects under CPEC have been operational. In order to ensure timely completion of CPEC projects, the federal government is working together with all stakeholders. It is good to note that federal as well as provincial governments are working on CPEC projects together. New technologies are being introduced in infrastructure, transportation and engineering sectors due to CPEC projects.”

The Experts said, “CPEC is a 3,218 kilometer long route, to be built over next several years, consisting of highways, railways and pipelines. The actual estimated cost of the project is expected to be US$75 billion, out of which US$45 billion plus will ensure that the corridor becomes operational by 2020. The remaining investment will be spent on energy generation and infrastructure development. It’s a beginning of a journey which hopes to transform the economy and help bridge Pakistan’s power shortfall.”

They said, “CPEC has drawn the attention of all over the world and provided Pakistan a unique opportunity to become a global economic leader. Although governments of Pakistan and China are closely collaborating in this project, at the same time, the private sectors of Pakistan and China are going to have a bigger role to play in this mega project. CPEC is an overall cooperation platform with a focus on the long-term development of bilateral cooperation in various fields.”

The consultative Session was jointly organized by the LCCI and Board of Investment (BOI). Vice President LCCI Muhmmad Nasir Hameed Khan, Project Director CPEC, Planning Commission Hassan Daud Butt, Fareena Mazhar, Zuhfran Qasim, Ali Abbas, Amer Saleemi, Shahid Hassan Sheikh, Almas Hyder, Moazzam Rasheed and Muhammad Nawaz were also present on the occasion.

Posted on: 2017-07-05T16:13:00+05:00